RC Action!
 
 
 
December 21, 2017 | Washington, D.C.
 
 
 
 

Holiday Savings—Bonds Survive the Tax Cut Bill!


Thanks to all who worked hard to preserve crucial affordable housing provisions in the just-passed HR 1, Tax Cuts and Jobs Act. The bill fully maintains the ability to use private-activity bonds integral to the 4% LIHTC; preserves the 9% low-income housing tax credit; and exempts the housing credit from the base erosion and anti-abuse tax at 80%. A helpful analysis of these measures in the bill can be found here. This is great news for the recapitalization of 32,000+ RAD units in the pipeline depending on the use of bonds and 4% credits to move to closing!


You Can Still Help Advance RAD in FY 2018—Really!

 

With a likely 30-day extension of another Continuing Resolution (CR) prior to expiration of the current CR on December 22, there is still time to press the case for extending RAD’s authority in the final form of the FY 2018 appropriations act. With negotiations well underway, the best bet now is to reach out directly or ask your representatives to express their support for the Senate THUD proposals for RAD to Republican majority members of the House and Senate appropriations committee, especially Chairman Frelinghuysen in the House.

 
Lists of the Appropriations Committee members can be found on the Collaborative’s Actions web page. Also ask House members to express their support to THUD Chairman Mario Diaz-Balart & Senate members directly to THUD Chairman Susan Collins of Maine.

Plus, provide your representatives with the impact of RAD in their states using up-to-date data from the RAD Resource Desk tables. The handy Excel spreadsheets under the Data & Resources tab make it easy to isolate what’s closed, underway or on the RAD waiting list in your state. For example, this would be great information to underscore with House Appropriations Chairman Frelinghuysen of New Jersey:   

RAD’s IMPACT in NJ


# UNITS CONST $ LIHTC $ MORTGAGE $
Closed 4,468 75,342,533 35,376,672 55,749,182
Financing
Approved
1,956 30,222,666

CHAP
Awarded
1,136 75,446,770

Waitlist 9,000


TOTALS 16,560 $181,011,969 $35,376,672 $55,749,182


We can (still) get this done—and Happy Holidays!

 
 
 
 
Contact
 
 

radcollaborative.org

 
 
 
 

455 Massachusetts Ave, NW· Suite 425 · Washington, D.C. · 20001 

 
 
    
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